Filed Pursuant to Rule 433
Registration No. 333-261845
June 5, 2023

Truist Financial Corporation

Pricing Term Sheet

June 5, 2023

Medium-Term Notes, Series G (Senior)

$1,750,000,000

5.867% Fixed-to-Floating Rate Senior Notes due June 8, 2034

Issuer	Truist Financial Corporation
Security	5.867% Fixed-to-Floating Rate Senior Notes due June 8, 2034
Expected Ratings*	A3/Stable (Moody’s) / A-/Stable (S&P) / A/Stable (Fitch) / AAL/Stable (DBRS)
Currency	USD
Size	$1,750,000,000
Security Type	SEC Registered Medium-Term Notes, Series G (Senior)
Trade Date	June 5, 2023
Settlement Date	June 8, 2023 (T+3)
Maturity Date	June 8, 2034
Fixed Rate Period	The period from, and including, the Settlement Date to, but excluding, June 8, 2033
Floating Rate Period	The period from, and including, June 8, 2033 to, but excluding, the Maturity Date
Fixed Rate Coupon	5.867%
Floating Rate Coupon	An annual floating rate equal to the Base Rate plus a spread of 2.361% per annum, payable quarterly in arrears during the Floating Rate Period
Base Rate	During the Floating Rate Period, SOFR (compounded daily over a quarterly Interest Period in accordance with the specific formula described in the Preliminary Pricing Supplement).
Floating Rate Reset Frequency	Quarterly during the Floating Rate Period
Payment Frequency	During the Fixed Rate Period, semiannually; during the Floating Rate Period, quarterly
Interest Payment Dates	With respect to the Fixed Rate Period, each June 8 and December 8, commencing December 8, 2023; and with respect to the Floating Rate Period, each March 8, June 8, September 8 and December 8, commencing September 8, 2033, as further described in the Preliminary Pricing Supplement.

Interest Determination Dates	For the Floating Rate Period, the date two U.S. Government Securities Business Days before each Interest Payment Date
Interest Reset Dates	For the Floating Rate Period, each interest payment date.
Day Count Convention	During the Fixed Rate Period, 30/360; during the Floating Rate Period, Actual/360
Redemption Provisions	Redeemable (i) at any time after 180 days following the issue date and before June 8, 2033, in whole or in part, at a make- whole redemption price based on the treasury rate plus 35 basis points and (ii) on June 8, 2033, in whole but not in part, or on or after March 8, 2034 (three months month prior to the Maturity Date), in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, in each case, plus accrued and unpaid interest thereon to, but excluding, the date of redemption. We will provide 10 to 60 calendar days’ notice of redemption to the registered holder of the Notes.
Fixed Rate Benchmark Treasury	3.375% US Treasury due May 15, 2033
Fixed Rate Benchmark Treasury Spot and Yield	97-13+; 3.687%
Fixed Rate Spread to Benchmark Treasury	+ 218 basis points
Fixed Rate Yield to Maturity	5.867%
Price to Public	100.000% of face amount
Net Proceeds (Before Expenses) to Issuer	$1,744,750,000 (99.700%)
Use of Proceeds	The issuer intends to use the net proceeds from this offering for general corporate purposes, which may include the acquisition of other companies, repurchasing outstanding shares of the issuer’s common stock, repayment of maturing obligations and refinancing of outstanding indebtedness and extending credit to, or funding investments in, the issuer’s subsidiaries
Denominations	$2,000 x $1,000
CUSIP / ISIN	89788MAP7 / US89788MAP77
Joint Book-Running Managers	Truist Securities, Inc. BofA Securities, Inc. J.P. Morgan Securities LLC Morgan Stanley & Co. LLC
Co-Managers	Academy Securities, Inc. Drexel Hamilton, LLC Mischler Financial Group, Inc.

* Note: A securities rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating may be subject to revision or withdrawal at any time by the assigning rating organization.

The underwriters expect to deliver the securities to purchasers on or about June 8, 2023, which will be the third business day following the date of pricing of the securities (such settlement cycle being herein referred to as “T+3”). Under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the securities prior to the second

business day before the delivery of the securities will be required, by virtue of the fact that the securities initially will settle in T+3, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the securities who wish to trade the securities prior to the second business day before the delivery of the securities should consult their own advisor.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Truist Securities, Inc. at 1-800-685-4786, BofA Securities, Inc. at 1-800-294-1322, J.P. Morgan Securities LLC at 1-212-834-4533 or Morgan Stanley & Co. LLC at 1-866-718-1649

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